In the Bulgarian law system, the Notary plays the major part in the process of ownership transaction. The Notary is a public official in which presence the Buyer and the Seller of the real estate confirm that:- they fully understand the meaning of the terms and conditions stipulated in the Title Deed:- they agree on the transaction:- they are fully aware of the consequences and fully accept and agree on this motion. When the Deed is signed in front of the Notary, the Seller confirms that the money has already been handed over and the Buyer on their part confirms that they agree to buy the real estate upon the described conditions. The Notary, in fact puts on public record that the Title Deed has been signed in their presence and understood by the parties concerned. The Notary is further in charge of the submitting of the Title Deed with the other related documents of the transfer to the Cadastral and the Property Register (Land Register). There the Notary will pay registration and state fees collected previously from the buyer. The term for receiving a notarized and registered Title Deed is usually around 2 to 4 days.
The preparation of the Deed itself requires certain documents related to the property or object of the deal and the parties involved. They concern the status of the buyer and the owner themselves, as well as the status of the real estate with confirmation of their legal and true nature also coming with-in the competency of the Notary’s check and approval.
